NOTE: I almost posted this in P&R. Considering moving it so I could rant about Obama. Depends on the first responses....

Since October at least a half-dozen major corporations, including Tyco International (TYC), Noble (NE), and Ingersoll-Rand (IR), have proposed reincorporating in Ireland or Switzerland. The two countries may have higher tax rates than in the tropics, but both offer bigger tax savings than either the U.S. or Europe. Plus, both have well-established tax treaties, which decide which country has primary taxing rights and help avoid double taxation.

The trend comes amid increasing moves by both the Obama Administration and congressional Democrats to clamp down on corporate overseas tax maneuvering. Much attention has been given to the White House's call to end the deferral of taxes on foreign profits, but the plan will also make it harder to shift profits from one foreign subsidiary to one with tax-haven status. Meanwhile, legislation introduced by Senator Carl Levin (D-Mich.) would, among other things, tax corporations based in designated tax havens as U.S. corporations if they're managed and controlled here, too.

Companies that run from their tax liability in the USA, should not be allowed to do business in the USA. Everyone should pay their fair share.

30 June, 2009, 05:15 AM

Coastercraze

Quote:

Originally Posted by texashiker

Companies that run from their tax liability in the USA, should not be allowed to do business in the USA. Everyone should pay their fair share.

I have to agree on this.

1 July, 2009, 17:56 PM

Will.Spencer

Google has already moved their AdSense divison to Ireland. Microsoft is publicly threatening to leave the U.S.

These predatory tax systems make American companies uncompetitive in the world markets. American companies who fail to move overseas will simply fail -- destroyed by foreign competitors who do not have the U.S. government actively attempting to suck the life blood from their veins.

1 July, 2009, 21:12 PM

Zash

Quote:

Originally Posted by texashiker

Companies that run from their tax liability in the USA, should not be allowed to do business in the USA. Everyone should pay their fair share.

There's a difference between fair share and "GIVE ME ALL YOUR MONEY" :cool:

2 July, 2009, 23:27 PM

Coastercraze

Quote:

Originally Posted by Zash

There's a difference between fair share and "GIVE ME ALL YOUR MONEY" :cool:

Or how about BAIL ME OUT!

Now pay your fair share so I can get my paycheck :D There's a reason we have taxes and without taxes I don't get paid, although I pay my own wages too through fed taxes.

3 July, 2009, 10:10 AM

Hellas

I am wondering how someone have right to stop my country
to turn off or lower the taxes for the benefits of our citizens?

3 July, 2009, 19:14 PM

TopDogger

So with all of the claims that Obama's programs will "save" or "create" millions of new jobs, which one does this fall under? :D

Quote:

Originally Posted by Zash

There's a difference between fair share and "GIVE ME ALL YOUR MONEY" :cool:

There is no "fair share" with BO's programs. His mantra is "share the wealth", which means that those who do work hard and are productive are supposed to share their earnings with the bums who are not productive.

Ireland is a beautiful country. I've been there a few times. If BO continues to sink the USA ship, I might consider moving there myself.

Quote:

Originally Posted by texashiker

Companies that run from their tax liability in the USA, should not be allowed to do business in the USA. Everyone should pay their fair share.

This true, but companies who do this have been given a lot of leeway because they create jobs in the USA. Japanese companies are well-know for keeping the profits in Japan and breaking even or taking a loss in the USA. It is all a matter of how you work the books and move the money around.

3 July, 2009, 20:31 PM

Will.Spencer

Quote:

Originally Posted by Hellas

I am wondering how someone have right to stop my country to turn off or lower the taxes for the benefits of our citizens?

That's a very interesting thing that the "developed" countries are trying to do right now.

They are trying to create international law to make it illegal for "developing" countries to use sensible tax systems as a means for attracting people and capital. In effect, the developed nations are attempting to outlaw competition and prevent the developing nations from succeeding. This was a big topic at the last G20 meeting.

These same nations are already achieving much of that goal through an organization named with Orwellian doublespeak: "The Organization for Economic Co-operation and Development."

Quote:

Originally Posted by TopDogger

So with all of the claims that Obama's programs will "save" or "create" millions of new jobs, which one does this fall under? :D

This will create jobs -- outside of the U.S. :p

Quote:

Originally Posted by TopDogger

There is no "fair share" with BO's programs. His mantra is "share the wealth", which means that those who do work hard and are productive are supposed to share their earnings with the bums who are not productive.

As Thomas Jefferson said, "The democracy will cease to exist when you take away from those who are willing to work and give to those who would not."

Quote:

Originally Posted by TopDogger

It is all a matter of how you work the books and move the money around.

Definitely true. Companies and individuals are very smart about things like these. As the U.S. tax system becomes more onerous, capital will flow to nations with less onerous tax systems.

5 July, 2009, 14:20 PM

Szise

It's normal to have lower taxes if the country is not very developed or has another vision, my country needs investitions, without lowering the taxes the country will remain poor forever or bought by others. I doubt will ever be such a global law regarding taxes, every man has a family, his rules, no man in this world can come to tell me to eat bananas all day because another family does.
U.S. obviously one day will fall like many others, there are huge countries waiting to rule the world, China, India, Russia. A global law will only make the far right extremist parties to receive more votes in Europe. They are dreaming, or have too much money if they think i care about such global laws, will always be one or more countries against, Yin - Yang, N-W, S-N, left-right :-)